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Fuel prices skyrocket after third consecutive day hike; diesel nears Rs 100/L in Chennai

The central government is in talks with several oil-exporting countries on the issue of supply and demand of oils but there is no possibility of immediate relief in prices.

India TV Business Desk India TV Business Desk
New Delhi Updated on: October 22, 2021 8:40 IST
Fuel rates skyrocket after third consecutive day hike;
Image Source : PTI

Fuel rates skyrocket after third consecutive day hike; diesel nears ₹100 mark in Chennai

Petrol and diesel prices on Friday were hiked for the third consecutive day, taking the pump rates across the country to record high levels. The prices of petrol and diesel were hiked by Rs 0.35 and will cost Rs 106.89 per litre and Rs 95.62 per litre respectively in Delhi.

In Mumbai, the petrol price stands at Rs 112.78 per litre and diesel would be sold at Rs 103.63 per litre, today.

In Kolkata, the petrol will be sold at Rs. 107.45 per litre and diesel will be sold at Rs. 98.73 per litre. The prices in Chennai on Thursday stood at Rs. 103.92 per litre for petrol and Rs. 99.92 per litre for diesel.

The costliest fuel was in the border town of Ganganagar in Rajasthan, where petrol comes for ₹119.05 a litre and diesel for ₹109.88 per litre.

Petrol now costs 35.3 per cent more than the price at which aviation turbine fuel (ATF or jet fuel) is sold to airlines. ATF in Delhi costs ₹ 79,020.16 per kilo litre or roughly ₹ 79 per litre.

The rising fuel prices in the country are not going to come down immediately. The central government is in talks with several oil-exporting countries on the issue of supply and demand of oils but there is no possibility of immediate relief in prices.

On Monday, a source told ANI that the Ministry of Petroleum and Natural Gas recently raised concerns about the matter of pricing, supply and demand of oils to the major oil-producing countries.

Crude price has been on a surge rising over three year high level of over $85 a barrel now as global demand remains firm while 'OPEC+' continues to move slowly on increasing production.

Since September 5 when both petrol and diesel prices were revised, the price of petrol and diesel in the international market is higher by around $9-10 per barrel as compared to average prices during August.

ALSO READ: Breather to consumers? Govt may cut excise duty on petrol, diesel as prices hit record high

 

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